Veritable L.P. boosted its holdings in CBRE Group, Inc. (NYSE:CBRE – Free Report) by 2.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,809 shares of the financial services provider’s stock after acquiring an additional 231 shares during the quarter. Veritable L.P.’s holdings in CBRE Group were worth $872,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bank Julius Baer & Co. Ltd Zurich lifted its holdings in shares of CBRE Group by 98,156.9% during the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 220,922,882 shares of the financial services provider’s stock valued at $17,830,686,000 after acquiring an additional 220,698,040 shares during the period. Geode Capital Management LLC lifted its holdings in CBRE Group by 2.1% during the 1st quarter. Geode Capital Management LLC now owns 7,189,800 shares of the financial services provider’s stock valued at $522,405,000 after purchasing an additional 148,971 shares during the last quarter. Principal Financial Group Inc. boosted its position in CBRE Group by 4.0% in the second quarter. Principal Financial Group Inc. now owns 5,926,297 shares of the financial services provider’s stock valued at $478,311,000 after buying an additional 226,861 shares in the last quarter. Franklin Resources Inc. grew its stake in CBRE Group by 3.2% during the first quarter. Franklin Resources Inc. now owns 5,613,032 shares of the financial services provider’s stock worth $408,685,000 after buying an additional 173,675 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of CBRE Group by 9.0% during the second quarter. Allspring Global Investments Holdings LLC now owns 5,529,232 shares of the financial services provider’s stock worth $446,264,000 after buying an additional 454,779 shares in the last quarter. Institutional investors own 96.71% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the company. Raymond James lowered their target price on CBRE Group from $100.00 to $95.00 and set a “strong-buy” rating for the company in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods reduced their target price on shares of CBRE Group from $93.00 to $85.00 in a research report on Tuesday, October 3rd. StockNews.com began coverage on shares of CBRE Group in a research report on Thursday, October 5th. They issued a “hold” rating for the company. Citigroup reiterated a “buy” rating and issued a $98.00 price objective on shares of CBRE Group in a research report on Monday, September 18th. Finally, Evercore ISI cut their price target on CBRE Group from $94.00 to $91.00 and set an “outperform” rating on the stock in a research note on Monday, September 11th. Three analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, CBRE Group presently has a consensus rating of “Moderate Buy” and a consensus target price of $91.33.
In related news, CFO Emma E. Giamartino sold 1,064 shares of CBRE Group stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $76.53, for a total transaction of $81,427.92. Following the completion of the transaction, the chief financial officer now owns 53,685 shares in the company, valued at $4,108,513.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Emma E. Giamartino sold 1,064 shares of CBRE Group stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $76.53, for a total transaction of $81,427.92. Following the completion of the sale, the chief financial officer now owns 53,685 shares of the company’s stock, valued at approximately $4,108,513.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brandon B. Boze sold 1,200,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $84.41, for a total value of $101,292,000.00. Following the sale, the director now owns 4,637,748 shares of the company’s stock, valued at approximately $391,472,308.68. The disclosure for this sale can be found here. Insiders own 0.53% of the company’s stock.
CBRE Group Price Performance
NYSE CBRE opened at $78.05 on Friday. The firm’s 50 day moving average is $73.70 and its 200-day moving average is $78.22. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $23.79 billion, a PE ratio of 41.74 and a beta of 1.39. CBRE Group, Inc. has a 12-month low of $64.63 and a 12-month high of $89.58.
CBRE Group (NYSE:CBRE – Get Free Report) last released its earnings results on Friday, October 27th. The financial services provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.07. CBRE Group had a return on equity of 13.88% and a net margin of 1.89%. The business had revenue of $7.87 billion for the quarter, compared to the consensus estimate of $7.50 billion. During the same quarter in the previous year, the business earned $1.13 earnings per share. CBRE Group’s quarterly revenue was up 4.5% on a year-over-year basis. Equities research analysts anticipate that CBRE Group, Inc. will post 3.7 earnings per share for the current fiscal year.
CBRE Group Company Profile
CBRE Group, Inc operates as a commercial real estate services and investment company worldwide. It operates through three segments: Advisory Services, Global Workplace Solutions, and Real Estate Investments segments. The Advisory Services segment provides strategic advice and execution to owners, investors, and occupiers of real estate in connection with leasing of offices; industrial and retail space; property sales and mortgage services under the CBRE Capital Markets brand; property and project management services, including construction management, marketing, building engineering, lease administration, accounting, and financial services for owners of and investors in office, industrial, and retail properties; and valuation services that include market value appraisals, litigation support, discounted cash flow analyses, and feasibility studies, as well as consulting services, such as property condition reports, hotel advisory, and environmental consulting.
- Five stocks we like better than CBRE Group
- How to Capture the Benefits of Dividend Increases
- Williams-Sonoma is a steal for buy-and-hold investors
- Investing in Construction Stocks
- A closer look at Warren Buffett’s latest surprise purchase
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- GE stock surges to six-year high: What’s behind the move?
Receive News & Ratings for CBRE Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CBRE Group and related companies with MarketBeat.com's FREE daily email newsletter.